Kemper Corporation (NYSE: KMPR) reported today net income of $1.9 million ($0.03 per share) for the fourth quarter of 2012, compared to net income of $24.3 million ($0.40 per share) for the fourth quarter of 2011. Consolidated net operating loss 1 was $3.4 million ($0.06 per share) for the fourth quarter of 2012, compared to consolidated net operating income of $24.1 million ($0.40 per share) for the fourth quarter of 2011.
|Three Months Ended||Year Ended|
|(Dollars in millions, except per share amounts) (Unaudited)||
|Dec 31,2012||Dec 31,2011|
|Consolidated Net Operating Income (Loss) 1||$||(3.4||)||$||24.1||$||53.8||$||47.1|
|Income (Loss) from Continuing Operations||(1.7||)||25.0||91.8||61.7|
|Impact of Catastrophe Losses and Related Loss Adjustment Expense (LAE) on Net Income||$||(29.2||)||$||(4.6||)||$||(80.9||)||$||(106.5||)|
|Basic Net Income (Loss) Per Share From:|
|Consolidated Net Operating Income (Loss) 1||$||(0.06||)||$||0.40||$||0.91||$||0.78|
|Impact of Catastrophe Losses and Related LAE on Net Income Per Share||$||(0.50||)||$||(0.08||)||$||(1.37||)||$||(1.76||)|
1 Consolidated net operating income (loss) is an after-tax, non-GAAP financial measure. See “Use of Non-GAAP Financial Measures” for additional information.
“Kemper's performance for 2012 was once again marked by significant unusual weather events. In the fourth quarter specifically, Superstorm Sandy adversely affected our results by $32 million after-tax,” commented Donald G. Southwell, Kemper's Chairman, President and Chief Executive Officer. “It is at times like these when our agents and claims teams show the value of Kemper, fulfilling our promises and helping our customers restore their lives. I'm proud of the professional and caring support our team provides to our policyholders. It is also gratifying that the diversity of earnings provided by our life and health business and solid investment returns more than offset these weather impacts.”
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